With the COVID-19 pandemic creating unprecedented challenges, staying healthy isn’t the only thing concerning Americans right now. Many people are suffering the financial anxiety and uncertainty related to income, investments, retirement accounts and basic living expenses. Thanks to COVID-19, it took just 5 weeks for the S&P 500 to drop more than 35%, making it the fastest-arriving bear market in history. It then rose more in the last 50 days than at any time since 1933. So, what are consumers to do now?
One of the country’s top financial planners and host of the nationally syndicated Ric Edelman Radio Show joins our Laura Cavanaugh to talk about the financial impact from COVID-19 and concrete steps you can take to protect your financial security, including building cash reserves, cutting expenses and taking advantage of lower mortgage rates. Edelman has written a financial report called COVID and Your Money, a 64-page report, to help you get through this crisis.
You can download the report for free at edelmanfinancialengines.com.